Financial Statements12 Clause Samples

Financial Statements12. 2 Financial Statements. ▇▇▇▇▇▇ has furnished certain financial statements to ▇▇▇▇▇▇, which statements completely and accurately present the financial condition of Tenant on the dates thereof. There has been no material adverse change in business, property or condition of Tenant since the date of such financial statements. Tenant is not insolvent within the meaning of Section 548(a)(2)(B) of the United States Bankruptcy Code or any other federal or state law using or defining such term, and will not be rendered insolvent by the transactions contemplated by this Lease. Tenant hereby covenants and agrees to deliver to Landlord within the time periods stated its financial statements and other financial information necessary to enable Landlord to comply with all financial reporting obligations set forth in the Mortgage. Without limiting the foregoing, Tenant acknowledges that pursuant to the Mortgage, Landlord is required to maintain a minimum Fixed Charge Coverage Ratio (as defined in the Mortgage), and Tenant agrees to provide Landlord with all information necessary to enable Landlord to calculate and report its Fixed Charge Coverage Ratio.